This article was posted on Monday, 17:20, UTC.
The market dropped below the kumo and gave sell opportunity. Based on the 4H chart we can see a short term consolidation and we can trade based on a breakout signal. ADX line of DMI indicator rises and confirms strong price movement. We have to place pending orders for sell at 1.25500 level with stop orders above 1.26300 level. Profit target should be at 1.24300 level. If the market breaks the downtrend line, sell orders must be deleted. We’ll have to search for a new trading opportunity for this market. Recommended trading volume for this trade is up to 3% from your deposit.
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Profit Targets: 1.24300
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Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.